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Note: This Treaty may be impacted by the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). MLI impact on Tax Treaties is available with the Orbitax International Tax Research & Compliance Expert.

ARTICLE 18

Pensions and Life Annuity

(1) Subject to the provisions of paragraph (2) of Article 19, pensions and other similar remuneration and annuities paid to a resident of a Contracting State shall be taxable only in that State.

(2) The term "Life Annuity" means a specified sum payable periodically on specified dates, for life or for a specified or determinable period, by virtue of an obligation to make such payments in return for a full and consequential payment of money or an equivalent value.